The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) has published a set of resources to support Canadian mortgage industry compliance under the Proceeds of Crime (Money Laundering) and Terrorist Finance Act (PCMLTFA) and its associated Regulations, which became effective October 11, 2024.
The resources are a series of short videos that the regulator is encouraging mortgage industry participants to view:
- Mortgage Sector: Compliance program requirements
- The importance of suspicious transaction reports
- Understanding reasonable grounds to suspect
- What to consider when submitting a suspicious transaction report
- Mortgage Sector: Suspicious transaction reports
FINTRAC’s Requirements for mortgage administrators, brokers, and lenders are available for download from FINTRAC’s website. A complete list of FINTRAC’s video learning resources can be found here.
For more information, please call Barbara Hendrickson at BAX Securities Law (647) 403-4606.
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